Published: 2025-05-26T05:57:41.000Z
Chart USD/CNH Update: Extending losses to fresh year low
Technical Analyst
-
Extending break of the 7.1800 support to reach fresh year low at 7.1615
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1615 | intraday low | ||
| R3 | 7.2155/00 | ** | March low, congestion | S2 | 7.1500 | * | Oct high | |
| R2 | 7.2000 | * | congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.1800 | * | 13 May low | S4 | 7.1000 | ** | figure, congestion |
Asterisk denotes strength of level
05:50 GMT - Extending break of the 7.1800 support to reach fresh year low at 7.1615. Negative daily studies suggest room for further losses to retrace the September/April rally. Break will see room to the 7.1500 congestion then 7.1460, 61.8% Fibonacci level. Lower still, will see room to strong support at the 7.1000 congestion. Meanwhile, resistance is lowered to the low of 13 May at 7.1800 and this extend to the 7.2000 congestion. This area is expected to cap and sustain losses from the April high.